I’ve signed a Parliamentary motion calling on the Government to allow Councils to keep all of the profits from ‘Right to Buy’ to reinvest in affordable housing for local people.
At the moment most of the profits go to the Treasury.
Since ‘Right to Buy’ came in the number of Council properties in Barking and Dagenham has halved.
‘Right to Buy’ has given some people in the Borough the chance to own their own homes. The problem is that those properties weren’t replaced. The money wasn’t used to build new housing stock as it should have been.
It’s completely unfair that central government has reaped the profits while local people have lost out because there aren’t enough houses.
The Council should be able to keep 100% of the money and use it to build the new affordable homes we so desperately need in this Borough.
The motion I’ve signed also calls on the Government not to cap the amount Councils can borrow to invest in social housing, so they’ve got the freedom they need to meet local needs.
Early Day Motion 1589:
“That this House welcomes the provisions in the Localism Bill to end central control and redistribution of council housing finance and to enable councils to manage their housing stock for the benefit of local residents; urges the Government to recognise that the maximum local freedom and control will be most conducive to councils’ ability to maintain existing housing and provide new homes; and therefore calls on the Government to remove from the Bill any powers for controls on borrowing beyond the well-established and successful prudential code and to allow local authorities to keep 100 per cent. of right to buy receipts for reinvestment locally.”